Demetree Builders Inc., which owns the land, plans to start converting the property by 2007 to a mixed-use community that would consist of 150 condominiums, 150,000 sf of retail, 100,000 sf of office and two parking garages, according to representatives at the locally based commercial, industrial and residential development company.
Officials at Demetree Builders Inc., founded in 1950 by developer Bill Demetree, are in talks with several potential retail anchor tenants for the new project, area brokers familiar with the undertaking tell GlobeSt.com. The Evans Group of Orlando is designing the center.
According to GlobeSt.com research, one of the highlights in developer Demetree's career was the 1965 deal in which he and his partners sold a total 12,400 acres of citrus groves and ranch land in Osceola and Orange counties to the late Walt Disney. The average price was $200 per acre. That deal formed the base for Disney's later acquisition of 15,000 additional acres, all from private landowners. Florida Ranch Lands of Orlando participated in later Disney land acquisitions.
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